JPMorgan Chase & Co. Lowers Deliveroo (LON:ROO) to Underweight

JPMorgan Chase & Co. cut shares of Deliveroo (LON:ROOGet Rating) to an underweight rating in a research note published on Monday morning, Marketbeat reports. They currently have GBX 81 ($0.99) target price on the stock, down from their previous target price of GBX 94 ($1.15).

ROO has been the topic of a number of other reports. Barclays reiterated an equal weight rating and set a GBX 170 ($2.08) price objective on shares of Deliveroo in a research note on Wednesday, June 1st. Morgan Stanley reiterated an equal weight rating on shares of Deliveroo in a report on Tuesday, April 26th.

Shares of LON:ROO opened at GBX 87.78 ($1.08) on Monday. The stock has a market cap of £1.71 billion and a price-to-earnings ratio of -4.80. The company has a quick ratio of 3.61, a current ratio of 3.74 and a debt-to-equity ratio of 4.34. Deliveroo has a 12-month low of GBX 77.58 ($0.95) and a 12-month high of GBX 396.80 ($4.86). The business’s 50 day moving average is GBX 95.42 and its 200 day moving average is GBX 134.29.

In other news, insider Adam Miller sold 40,314 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of GBX 81 ($0.99), for a total value of £32,654.34 ($39,997.97). Over the last 90 days, insiders sold 121,210 shares of company stock worth $11,232,910.

About Deliveroo (Get Rating)

Deliveroo plc operates an online food delivery platform. The company connects local consumers, restaurants and grocers, and riders to fulfil a purchase. It operates approximately more than 800 locations across 11 markets, including Australia, Belgium, France, Hong Kong, Italy, Ireland, the Netherlands, Singapore, the United Arab Emirates, Kuwait, and the United Kingdom.

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